The Manufacturers Life Insurance Company lowered its position in shares of Kinder Morgan, Inc. (NYSE:KMI - Free Report) by 18.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,344,886 shares of the pipeline company's stock after selling 740,547 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.15% of Kinder Morgan worth $91,650,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in KMI. Xponance Inc. boosted its stake in shares of Kinder Morgan by 5.2% during the 4th quarter. Xponance Inc. now owns 303,044 shares of the pipeline company's stock valued at $8,303,000 after buying an additional 15,114 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Kinder Morgan by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,291,704 shares of the pipeline company's stock valued at $50,624,000 after acquiring an additional 71,984 shares during the last quarter. Golden State Equity Partners grew its holdings in Kinder Morgan by 2,507.9% during the 4th quarter. Golden State Equity Partners now owns 16,430 shares of the pipeline company's stock worth $450,000 after acquiring an additional 15,800 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Kinder Morgan by 2.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 2,265,044 shares of the pipeline company's stock worth $62,062,000 after purchasing an additional 44,474 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Kinder Morgan by 39.9% in the 3rd quarter. Barclays PLC now owns 8,186,207 shares of the pipeline company's stock valued at $180,833,000 after purchasing an additional 2,334,273 shares in the last quarter. 62.52% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Kinder Morgan news, President Thomas A. Martin sold 18,000 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $27.70, for a total transaction of $498,600.00. Following the sale, the president now directly owns 843,652 shares of the company's stock, valued at $23,369,160.40. The trade was a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John W. Schlosser sold 75,461 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $26.65, for a total value of $2,011,035.65. Following the transaction, the vice president now directly owns 220,681 shares in the company, valued at $5,881,148.65. The trade was a 25.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,461 shares of company stock worth $3,506,116 over the last 90 days. 12.73% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
KMI has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on Kinder Morgan from $27.00 to $28.00 and gave the company a "sector perform" rating in a report on Tuesday. Truist Financial boosted their price target on Kinder Morgan from $25.00 to $31.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Scotiabank raised their price objective on Kinder Morgan from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Kinder Morgan from $28.00 to $29.00 and gave the company a "neutral" rating in a research note on Wednesday, March 5th. Finally, Barclays upgraded shares of Kinder Morgan from an "equal weight" rating to an "overweight" rating and set a $31.00 price target on the stock in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Kinder Morgan currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.71.
Read Our Latest Stock Analysis on Kinder Morgan
Kinder Morgan Stock Up 0.5 %
Shares of Kinder Morgan stock opened at $27.20 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.49 and a quick ratio of 0.39. Kinder Morgan, Inc. has a 1-year low of $18.13 and a 1-year high of $31.48. The business's fifty day moving average price is $26.96 and its two-hundred day moving average price is $27.08. The company has a market capitalization of $60.44 billion, a P/E ratio of 23.25, a PEG ratio of 3.08 and a beta of 0.72.
Kinder Morgan (NYSE:KMI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The pipeline company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Kinder Morgan had a net margin of 17.31% and a return on equity of 8.09%. The business had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.02 billion. As a group, research analysts forecast that Kinder Morgan, Inc. will post 1.25 EPS for the current year.
Kinder Morgan Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.30%. This is a boost from Kinder Morgan's previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 30th. Kinder Morgan's dividend payout ratio (DPR) is presently 100.86%.
Kinder Morgan Profile
(
Free Report)
Kinder Morgan, Inc operates as an energy infrastructure company primarily in North America. The company operates through Natural Gas Pipelines, Products Pipelines, Terminals, and CO2 segments. The Natural Gas Pipelines segment owns and operates interstate and intrastate natural gas pipeline, and storage systems; natural gas gathering systems and natural gas processing and treating facilities; natural gas liquids fractionation facilities and transportation systems; and liquefied natural gas gasification, liquefaction, and storage facilities.
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